Common use of Additional L/C Issuers Clause in Contracts

Additional L/C Issuers. The Borrowers may, at any time and from time to time, designate one or more additional Revolving Credit Lenders to act as an L/C Issuer under the terms of this Agreement with the consent of the Administrative Agent (which consent shall not be unreasonably withheld) and such Revolving Credit Lender. Any Revolving Credit Lender so designated shall be deemed to be an “L/C Issuer” (in addition to being a Revolving Credit Lender) in respect of Letters of Credit issued or to be issued by such Revolving Credit Lender, and, with respect to such Letters of Credit, the term “L/C Issuer” shall thereafter apply to the other L/C Issuers and such Revolving Credit Lender. The acceptance of any designation as an L/C Issuer hereunder by a Revolving Credit Lender shall be evidenced by an agreement entered into by such Revolving Credit Lender, in a form satisfactory to the Borrowers and the Administrative Agent, and, from and after the effective date of such agreement, (i) such Revolving Credit Lender shall have all the rights and obligations of an L/C Issuer under this Agreement and the other Loan Documents and (ii) references herein and in the other Loan Documents to the term “L/C Issuer” shall be deemed to refer to such Revolving Credit Lender in addition to any other L/C Issuers, as the context shall require.

Appears in 12 contracts

Samples: Credit Agreement (APi Group Corp), Credit Agreement (Element Solutions Inc), Credit Agreement (APi Group Corp)

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Additional L/C Issuers. The Borrowers Borrower may, at any time and from time to timetime with the consent of the Administrative Agent (which consent shall not be unreasonably withheld) and such Revolving Credit Lender, designate one or more additional Revolving Credit Lenders to act as an L/C Issuer under the terms of this Agreement with the consent of the Administrative Agent (which consent shall not be unreasonably withheld) and such Revolving Credit LenderAgreement. Any Revolving Credit Lender so designated as an L/C Issuer pursuant to this Section 2.03(m) shall be deemed to be an “L/C Issuer” (in addition to being a Revolving Credit Lender) in respect of Letters of Credit issued or to be issued by such Revolving Credit Lender, and, with respect to such Letters of Credit, the such term “L/C Issuer” shall thereafter apply to the other L/C Issuers and such Revolving Credit Lender. The acceptance of any designation as an L/C Issuer hereunder by a Revolving Credit Lender shall be evidenced by an agreement entered into by such Revolving Credit Lender, in a form reasonably satisfactory to the Borrowers Borrower and the Administrative Agent, and, from and after the effective date of such agreement, (i) such Revolving Credit Lender shall have all the interests, rights and obligations of an L/C Issuer under this Agreement and the other Loan Documents and (ii) references herein and in the other Loan Documents to the term “L/C Issuer” shall be deemed to refer to such Revolving Credit Lender in addition to any other L/C Issuers, as the context shall require. The Administrative Agent shall notify the Revolving Credit Lenders of any such additional L/C Issuer. At any time there is more than one L/C Issuer hereunder, the Borrower may, in its discretion, select which L/C Issuer is to issue any particular Letter of Credit.

Appears in 3 contracts

Samples: First Lien Credit Agreement (Evoqua Water Technologies Corp.), Intellectual Property Security Agreement (EWT Holdings I Corp.), First Lien Credit Agreement (EWT Holdings I Corp.)

Additional L/C Issuers. The Borrowers Borrower may, at any time and from time to timetime with the consent of the Administrative Agent (which consent shall not be unreasonably withheld) and such Revolving Credit Lender, designate one or more additional Revolving Credit Lenders to act as an L/C Issuer under the terms of this Agreement with the consent of the Administrative Agent (which consent shall not be unreasonably withheld) and such Revolving Credit LenderAgreement. Any Revolving Credit Lender so designated as an L/C Issuer pursuant to this Section ‎2.03(m) shall be deemed to be an “L/C Issuer” (in addition to being a Revolving Credit Lender) in respect of Letters of Credit issued or to be issued by such Revolving Credit Lender, and, with respect to such Letters of Credit, the such term “L/C Issuer” shall thereafter apply to the other L/C Issuers and such Revolving Credit Lender. The acceptance of any designation as an L/C Issuer hereunder by a Revolving Credit Lender shall be evidenced by an agreement entered into by such Revolving Credit Lender, in a form reasonably satisfactory to the Borrowers Borrower and the Administrative Agent, and, from and after the effective date of such agreement, (i) such Revolving Credit Lender shall have all the interests, rights and obligations of an L/C Issuer under this Agreement and the other Loan Documents and (ii) references herein and in the other Loan Documents to the term “L/C Issuer” shall be deemed to refer to such Revolving Credit Lender in addition to any other L/C Issuers, as the context shall require. The Administrative Agent shall notify the Revolving Credit Lenders of any such additional L/C Issuer. At any time there is more than one L/C Issuer hereunder, the Borrower may, in its discretion, select which L/C Issuer is to issue any particular Letter of Credit.

Appears in 2 contracts

Samples: First Lien Credit Agreement (Evoqua Water Technologies Corp.), First Lien Credit Agreement (Evoqua Water Technologies Corp.)

Additional L/C Issuers. In addition to Bank of America, BBVA Compass, Citibank, N.A., BNP Paribas, The Borrowers mayBank of Nova Scotia and MUFG Bank, at any time and Ltd., the Borrower may from time to time, designate one or more additional with notice to the Revolving Credit Lenders to act or Performance Letter of Credit Lenders, as an L/C Issuer under the terms of this Agreement with applicable, and the consent of the Administrative Agent (which such consent shall not to be unreasonably withheldwithheld or delayed) and such Revolving Credit Lender. Any the applicable Revolving Credit Lender or the Performance Letter of Credit Lender being so designated shall be deemed appointed, appoint additional Revolving Credit Lenders or Performance Letter of Credit Lenders to be an “L/C Issuer” (in addition to being a Revolving Credit Lender) in respect of Letters of Credit issued or to be issued by such Revolving Credit Lender, and, with respect to such Letters of Credit, the term “L/C Issuer” shall thereafter apply to the other L/C Issuers and such under the applicable Facility; provided that the total number of L/C Issuers under the Revolving Credit LenderFacility at any time shall not exceed six Revolving Credit Lenders. The acceptance Upon the appointment of any designation a Lender as an L/C Issuer hereunder by a Revolving Credit Lender such Person shall be evidenced by an agreement entered into by such Revolving Credit Lenderbecome vested with all of the rights, in a form satisfactory to the Borrowers powers, privileges and the Administrative Agent, and, from and after the effective date of such agreement, (i) such Revolving Credit Lender shall have all the rights and obligations duties of an L/C Issuer under this Agreement hereunder. In connection with any such appointment, Schedule 1.01(c) shall be updated, and such update shall be provided to the Administrative Agent, to reflect the Letter of Credit Commitment of such additional L/C Issuer as agreed by such L/C Issuer and the other Loan Documents and (ii) references herein and Borrower; provided that in the other Loan Documents to the term “no event shall any L/C Issuer” shall 's Letter of Credit Commitment be deemed to refer to such Revolving Credit Lender in addition to any other L/C Issuers, as the context shall requireincreased without its consent.

Appears in 1 contract

Samples: Credit Agreement (Kbr, Inc.)

Additional L/C Issuers. The Borrowers Lead Borrower may, at any time and from time to timetime with the consent of the Administrative Agent (which consent shall not be unreasonably withheld) and such Revolving Credit Lender, designate one or more additional Revolving Credit Lenders to act as an L/C Issuer under the terms of this Agreement with the consent of the Administrative Agent (which consent shall not be unreasonably withheld) and such Revolving Credit LenderAgreement. Any Revolving Credit Lender so designated as an L/C Issuer pursuant to this Section 2.03(k) shall be deemed to be an “L/C Issuer” (in addition to being a Revolving Credit Lender) in respect of Letters of Credit issued or to be issued by such Revolving Credit Lender, and, with respect to such Letters of Credit, the such term “L/C Issuer” shall thereafter apply to the other L/C Issuers and such Revolving Credit Lender. The acceptance of any designation as an L/C Issuer hereunder by a Revolving Credit Lender shall be evidenced by an agreement entered into by such Revolving Credit Lender, in a form reasonably satisfactory to the Borrowers Lead Borrower and the Administrative Agent, and, from and after the effective date of such agreement, (i) such Revolving Credit Lender shall have all the interests, rights and obligations of an L/C Issuer under this Agreement and the other Loan Documents and (ii) references herein and in the other Loan Documents to the term “L/C Issuer” shall be deemed to refer to such Revolving Credit Lender in addition to any other L/C Issuers, as the context shall require. The Administrative Agent shall notify the Revolving Credit Lenders of any such additional L/C Issuer. At any time there is more than one L/C Issuer hereunder, the Lead Borrower may, in its discretion, select which L/C Issuer is to issue any particular Letter of Credit.

Appears in 1 contract

Samples: Intellectual Property Security Agreement (GMS Inc.)

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Additional L/C Issuers. The Borrowers may, at any time and from time to time, designate one or more additional Revolving Credit Lenders to act as an L/C Issuer under 66 the terms of this Agreement with the consent of the Administrative Agent (which consent shall not be unreasonably withheld) and such Revolving Credit Lender. Any Revolving Credit Lender so designated shall be deemed to be an “L/C Issuer” (in addition to being a Revolving Credit Lender) in respect of Letters of Credit issued or to be issued by such Revolving Credit Lender, and, with respect to such Letters of Credit, the term “L/C Issuer” shall thereafter apply to the other L/C Issuers and such Revolving Credit Lender. The acceptance of any designation as an L/C Issuer hereunder by a Revolving Credit Lender shall be evidenced by an agreement entered into by such Revolving Credit Lender, in a form satisfactory to the Borrowers and the Administrative Agent, and, from and after the effective date of such agreement, (i) such Revolving Credit Lender shall have all the rights and obligations of an L/C Issuer under this Agreement and the other Loan Documents and (ii) references herein and in the other Loan Documents to the term “L/C Issuer” shall be deemed to refer to such Revolving Credit Lender in addition to any other L/C Issuers, as the context shall require.

Appears in 1 contract

Samples: Credit Agreement (Element Solutions Inc)

Additional L/C Issuers. In addition to Bank of America, BBVA Compass, Citibank, N.A., BNP Paribas, The Borrowers mayBank of Nova Scotia and MUFG Bank, at any time and Ltd., the Borrower may from time to time, designate one or more additional with notice to the Revolving Credit Lenders to act or Performance Letter of Credit Lenders, as an L/C Issuer under the terms of this Agreement with applicable, and the consent of the Administrative Agent (which such consent shall not to be unreasonably withheldwithheld or delayed) and such Revolving Credit Lender. Any the applicable Revolving Credit Lender or the Performance Letter of Credit Lender being so designated shall be deemed appointed, appoint additional Revolving Credit Lenders or Performance Letter of Credit Lenders to be an “L/C Issuer” (in addition to being a Revolving Credit Lender) in respect of Letters of Credit issued or to be issued by such Revolving Credit Lender, and, with respect to such Letters of Credit, the term “L/C Issuer” shall thereafter apply to the other L/C Issuers and such under the applicable Facility; provided that the total number of L/C Issuers under the Revolving Credit LenderFacility at any time shall not exceed six Revolving Credit Lenders. The acceptance Upon the appointment of any designation a Lender as an L/C Issuer hereunder by a Revolving Credit Lender such Person shall be evidenced by an agreement entered into by such Revolving Credit Lenderbecome vested with all of the rights, in a form satisfactory to the Borrowers powers, privileges and the Administrative Agent, and, from and after the effective date of such agreement, (i) such Revolving Credit Lender shall have all the rights and obligations duties of an L/C Issuer under this Agreement hereunder. In connection with any such appointment, Schedule 1.01(c) shall be updated, and such update shall be provided to the Administrative Agent, to reflect the Letter of Credit Commitment of such additional L/C Issuer as agreed by such L/C Issuer and the other Loan Documents and (ii) references herein and Borrower; provided that in the other Loan Documents to the term “no event shall any L/C Issuer” shall ’s Letter of Credit Commitment be deemed to refer to such Revolving Credit Lender in addition to any other L/C Issuers, as the context shall requireincreased without its consent.

Appears in 1 contract

Samples: Credit Agreement (Kbr, Inc.)

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